Millennial investors are bullish on the stock ahead of earnings, according to Sahill Poddar, a data scientist at Robinhood.

In the week leading up to the results, there were 20% more investors who bought shares of Facebook than sold them on Robinhood's platform. Shares have rallied 6.47% since last Wednesday.

Investors under 30 are a bit more optimistic than their older counterparts, Poddar said. For millennials under 30, 40% more investors bought Facebook shares rather than sold them. For their counterparts over 30, 10% more investors bought shares rather than sold them.

Facebook has drawn some unwanted attention after it revealed an estimated 126 million users saw Russia-backed ads on its platform between 2015 and 2017. Yet investors are optimistic about its pace of user and advertising revenue growth, Mark Mahaney of RBC Capital Markets wrote in a note to clients.

Wall Street is expecting the company to earn $1.28 per share on revenue of $9.84 billion, according to Bloomberg data.